New Delhi: Gold prices fell for the third straight day by losing Rs280 to Rs28,340 per ten grams in the national caital on Wednesday on heavy selling by stockists driven by a weak global trend. Silver also fell by Rs695 to Rs41,410 per kg on poor offtake by industrial units and coin makers. Sentiment turned bearish after gold fell in overseas markets to a lowest level in three-week on speculation that the Federal Reserve will start to reduce bond purchases by the end of the year as the US economy improves, traders said. Gold in Singapore, which normally set price trend on the domestic front, fell by 0.8% to 1,273.55 dollar an ounce, the lowest since 17 July and silver by 0.8% to 19.37 dollar an ounce. Besides, sluggish demand due to off marriage and festival season further dampened the sentiment. On the domestic front, gold of 99.9 and 99.5% purity tumbled by Rs280 each to Rs28,340 and Rs28,140 per ten grams respectively.It had lost Rs180 in last two trade. Sovereign, however, held steady at Rs24,400 per piece of eight gram in scattered deals. In a similar fashion, silver ready fell by Rs695 to Rs41,410 per kg and weekly-based delivery by Rs605 to Rs41,280 per kg respectively. On the other hand, silver coins maintained its steady trend at Rs80,000 for buying and Rs81,000 for selling of 100 pieces.

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